logo
  Join        Login             Stock Quote

Bed Bath & Beyond (BBBY) 3Q Revenue Lag Expectations, Guidance Downbeat; Shares Off

 December 19, 2012 04:36 PM
 


(By Balachander) Bed Bath & Beyond Inc. (NASDAQ: BBBY) shares fell 2.21 percent in extended trading after the retailer of home products posted third-quarter revenue that trailed market expectations and issued a downbeat forecast.

The company also authorized a new $2.5 billion share repurchase plan. 

The Union, New Jersey-based company forecasts earnings per share (EPS) of $1.60 to $1.67, while consensus estimates call in for EPS of $1.75 for the fourth quarter ending February.

Bed Bath sees fiscal 2012 EPS of $4.48 to $4.54, trailing consensus estimate of $4.62.

The company reported third-quarter EPS of $1.03, up from $0.95 for the same period of last year, topping Wall Street projections by a penny. Net earnings increased 8.4 percent to $233 million.

[Related -Bed Bath & Beyond Inc. (NASDAQ:BBBY) Q3 Earnings Preview: Where Sales Go the Price Usually Follows]

Sales rose 15 percent to about $2.70 billion, versus consensus estimate of a growth of 16.70 percent.

Comparable store sales grew roughly 1.7 percent in the third quarter ended November.

As of November 24, 2012, the company had a total of 1,466 stores

BBBY shares, which have been trading in the 52-week range between $55.58 and $75.84, ended Wednesday's regular trading at $60.28.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOld Bank's New Breakout has Big Rally Potential

One of my favorite things to see in a long candidate is a pattern of beating Wall Street's earnings read on...

article imageIs The Stock Market's 5-Year Return A Useful Proxy For Valuation?

Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg read on...

article image4 Dogs To Sell Immediately

Despite the chorus of analysts and investors calling for the long-awaited correction, the market is showing read on...

article imageThe Fed's Magical Mystery Tour

What's going on at the Fed? Notorious dove, Charles Evans of the Chicago Fed, gave a speech in read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.